Buffett Is Back With One of His Biggest Buying Sprees in Years
- Berkshire upped stock purchases shrinking cash to $106 billion
- CEO revealed 9.5% stake in Activision; boosted Chevron holding
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After complaining for years that high valuations were thwarting his stock-buying efforts, Warren Buffett’s Berkshire Hathaway Inc. is back hoovering up other companies’ shares.
The conglomerate made roughly $41 billion of net purchases in the first quarter, including a boost to its Chevron Corp. stake that vaulted the investment into Berkshire’s top four common stock holdings. Buffett also disclosed that the company now holds an expanded 9.5% stake in Activision Blizzard Inc. stock -- an arbitrage bet on the video-game maker in the midst of being acquired by Microsoft Corp.